Indian River board approves 2018 property tax rate

The Indian River Board of Education approved a property tax rate of $3.097 per $100 of assessed value for fiscal 2018 at its regular monthly meeting on June 19.

The new rate represents an increase of 51.9 cents from fiscal 2017. Most of the increase — 49 cents — is the result of a successful current expense referendum on March 2. The district also made adjustments to the other components of the tax rate, increasing tuition and minor capital improvement while decreasing debt service.